All categories

3 years ago

One goal of bankruptcy law is to encourage the continued use of credit. true or false

1 answer:

4 0

True
After bankruptsy your credit is wiped therefore in order to buy a home for example you must have a certan amount of credit so it is encourages that you build it up

You might be interested in

Select the incorrect statement regarding costs and expenses.

egoroff_w [7]

Answer: Option C

Explanation: In simple words, expenses refers to outflow of money from the pockets or account of any individual or an entity with the objective of acquiring or producing something.

Manufacturing cost refers to the amount of resources that were out flowed the organisation while producing a good or service. Since the resources are getting out flowed, these costs are always recorded as expense over the operational life of the entity.

Labor cost, electricity bill of machines and purchase cost of raw materials etc are some of many examples of manufacturing cost.

7 0

3 years ago

A monopoly is a market for a good or service that

vichka [17]

A monopoly is a market for a good or service that wants to take over another company.

4 0

3 years ago

Here are the comparattive income statements of Georgia Development Corporation.

Oxana [17]

Answer:

When using horizontal analysis, figures are compared across different years with the subsequent year differences with the base year figures being a percentage of the base year's figures.

12/31/2017 12/31/2016 Difference Percentage

Net sales $600,000 $500,000 $100,000 20.0%

Cost of goods sold $414,000 $350,000 $64,000 18.3%

Gross profit $186,000 $150,000 $36,000 24.0%

Operating expenses $150,000 $120,000 $30,000 25.0%

Net income $36,000 $30,000 $6,000 20.0%

Net sales percentage = 100,000 / 500,000 = 20%

Cost of goods sold = 64,000 / 350,000 = 18.3%

Gross profit = 36,000 / 150,000 = 24%

Operating expenses = 30,000 / 120,000 = 25%

Net income = 6,000 / 30,000 = 20%

6 0

3 years ago

During 2019 the Barker Company had a net income of $75,000. Below is information taken from Barker’s last two balance sheets: 20

Kitty [74]

Answer:

cash provided by operating activities 84,000

Explanation:

net income 75,000

Adjustment (A)

gain on land (500)

depreciation 1,500

Adjusted net income 76,000

Change in working capital

↑account receivable (3,000) (B)

↓long term AR 10,000 (C)

↑Account payable 1,000 (D)

Net changes 8,000

cash provided by operating activities 84,000

Notes:

(A)

The net income may have non-monetary term, we need to remove those to get and adjusted net income on a cash basis

the gain on land is not a monetary term. We will record the proceeds in cash for the sale under investment activities, not operating as the business is not selling land every year.

depreciation is an accounting metric, is not an actual expense, it doesn't involve cash.

(B)

the increasein the Ar means more sales were not collected therefore, less cash collected.

(C)

the decrease in the long term AR represent the collection, so it increases the cash

(D)

the increase in account payable represent the delay of payment, so company has more cash available.

7 0

3 years ago

lilliput is a country that has closed borders and does not import or export any goods or services; hence, they do not worry abou

zhannawk [14.2K]

-0.01 billion is lilliput's a budget deficit. Total expenditure minus total receipts is the fiscal deficit (excluding borrowings). Revenue outlays plus capital outlays are equal to the revenue inflows plus capital inflows minus borrowings.

Despite being primarily utilised by governments, this has a wide range of applications for both people and companies. A government has a budget deficit when it spends more in a given inflows than it brings in the through taxes, for example. As a straightforward illustration, consider a government that receives $10 billion in revenue one year but spends $12 billion, creating a $2 billion budget deficit.

To learn more about budget deficit, click here.

brainly.com/question/29602763

#SPJ4

7 0

1 year ago